BlocRecon makes reconciliations far more strategic than it seems…
Transform business processes Create a golden-copy of data Build a real-time data backbone Harvest reconciled data sets
Generate new business opportunities
Solving the reconciliation problems is not just about the matching.
Transformation is required across the Whole Recon Value Chain.
Pre-recon Data Services
Extensive Data Servicing Capability including ELT and rule configuration
Solving For
- Unclear/missing information for matching
- Differences in data presentation
- Delays in getting information
- Receiving backdated transactions
- Manual data verification Non-standard data formats
Matching
Sophisticated matching engine with multiple matching types
Solving For
- Lack of auto-matching capability
- No common identifiers
- Complex matching scenarios like one to many, many to many
- Matching in tolerances and fuzzy matching requirements
- Duplicates in data sets
- Multi-way recons needs
Post Recon Workflow
Robust post-recon workflow management and exception handling
Solving For
- Manual break investigation and resolution
- Inefficiencies due to lack of ability to automatically categorize, label, and assign ownership
- Need of real-time distribution of reconciliation outputs (e.g. status, adjustments, reconciled data set)
Revolutionizing Reconciliations with A Data-First Approach
Our Unique “Data-First” Approach To Reconciliations Guarantees Lower Operational Costs Through Extensive Pre-Recon Data Cleansing, A Sophisticated Matching Engine And A Highly Configurable Post Recon Workflow And Exception Handling
Rapid Customization Enabled By A Microservices-Based Architecture
Inbuilt ELT And Sophisticated Matching Engine For Standard And Multi-Way Reconciliations
Real-Time Reconciliation Of Dynamic Data Sets
Blockchain Powered Data Harvesting, Golden Record Creation And Immutable Audit
Post-Recon Workflow Automation To Assist With Investigations, Breaks Resolution, Adjustments Postings, And Outbound Communication
Reconciliation process starts when data is available in Source Systems
Data Extraction & Ingestion
- Multi Protocol integration supported:
- API
- File Watchers & Uploads
- Messaging
- Direct DB connectivity
- Manual Entry
- DB log monitoring to extract data from any database with no impact on its performance
- Self-service setup for data ingestion
- Raw data kept for lineage and reusability
Data cleansing and standardization is vital part of any efficient reconciliation
Data Standardization
- Fully configurable ELT capability
- Multi-source data mapping with advanced lookups and calculations
- Custom functions to perform even most sophisticated transformations
- Aggregations capable of processing millions on transactions in a matter of minutes
Supplementary data from external sources increases the auto-match rate, help with breaks investigation and allows automation of post-recon flows
Data Enrichment
- Fully configurable business rules for data enrichment
- Ability to lookup data across multiple sources
- Live updates of recon outputs with latest available information
- External data can be used for transformations, matching and post-recon workflows
- Easy linkage of additional data sources to existing live processes
A highly sophisticated matching engine is capable of handling any-to-any reconciliations and multi-way data comparisons
Advanced Matching
- Complex matching rules like one-to-many, many-to-many, duplicates identification, matching in tolerance etc
- Multi-way reconciliation for comparing more than two sides
- Real-time reconciliations of dynamic data sets with cancels and updates supported
- Fully configurable rule hierarchies triggered by schedulers and data events
Manual effort is minimised with highly configurable post-recon workflows and exception management capabilities
Exceptions Management
- Fully configurable exceptions management
- Automated workflows rules can be triggered on whole recon or individual transaction level
- Auto-labeling, assignment, and prioritization of exceptions based on pre-defined business rules
- Predefined workflow actions conducting multiple tasks with a single mouse click
- Maker-checker and audit on all manual actions